1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vaselesa [24]
3 years ago
7

Exercise 1-13 Identifying effects of transactions using the accounting equation LO P1 Ming Chen began a professional practice on

June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner Invested $59,000 cash in the company along with equipment that had a $16,000 market value in exchange for its common stock. b. The company paid $2,500 cash for rent of office space for the month. C. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and Immediately collected the $2,500 cash earned. e. The company completed work for a client and sent a bill for $7,300 to be received within 30 days. f. The company purchased additional equipment for $5,900 cash. g. The company paid an assistant $3,500 cash as wages for the month. h. The company collected $4,600 cash as a partial payment for the amount owed by the client in transaction e. 1. The company paid $17,000 cash to settle the liability created in transaction c. J. The company paid $1,100 cash in dividends to the owner (sole shareholder).
Business
1 answer:
Oksi-84 [34.3K]3 years ago
8 0

Answer:

I used an excel spreadsheet since there is not enough room here.      

Explanation:

Download pdf
You might be interested in
In 3-4 sentences describe how economic liberty helps water the "money tree" in a free enterprise.
il63 [147K]

Answer:

It helps giving you the ability to choose what you think is best for your business

Explanation:

Vic, using the money tree metaphor is awesome in order to explain. Think about your free enterprise (let’s say… a store that sells trees!).

What you need in order to start and run a business? A place to sell those trees, employees, products, infrastructure, etc., and capital to fund all that. All that business plans and models that you will develop in order to have a successful business will require that you make economic decisions, actions. And, in order to make those decisions, you need economic liberty, which is exactly the ability one has to make economic decisions without political, economic or social blocks.

Imagine that in your region you can only sell trees with red leaves, or your trees are taxed much more than trees coming from overseas, or that employment law requires that no employee gets near a plant (who knows, it could be to prevent allergic season!). That would make super hard to develop your business right?

That’s how economic liberty could help you grow your money tree; into giving you the ability to choose what you think is best for your business.

6 0
3 years ago
The use of a differentiation strategy would be expected to be LEAST effective in which of the following markets? a. Commodity go
Tema [17]

Answer:

The correct answer is letter "A": Commodity goods.

Explanation:

A differentiation strategy is an approach adopted by companies to make the goods or services they offered unique compared to their competitors. Most firms tend to use price as the main key to the difference between their products and the competitors'.

Thus, <em>the differentiation strategy is less likely to be applied in commodity goods because they are inherently unique such as oil, natural gas, precious metals or foreign currencies</em>.

3 0
3 years ago
To be productive in a new job, what can you safely ignore
Andrew [12]
Well, these are the ways u can be productive at a new workplace:
-do the difficult or most important stuff first, then leave the less complicated stuff in the end
-take breaks-sitting 24/7 in ur office desk can be detrimental to ur health-do things u enjoy every one hour or so, such as sipping a black coffee with a light snack or having a quick laugh with ur colleauges, or perhaps u can challenge urself with a game of scrabble. it will change ur life of work struggles and make u mentally and physically happy!! 
-don't multitask-u will make ur life more complicated, by completing stuff in a second. don't be paranoid with wotever work u have, the world is not going to end!
-u have innovative thoughts but finding it problematic to execute it? write down some ideas, concepts of how to overcome some work problems or doodle of wot u see ur next digital future like. its not complicated, u just need to be experiment, u never know when a creative idea might rush in.

-i hope i helped:)

4 0
3 years ago
Currently, a company has units of safety stock for a product located in warehouses. The company is contemplating expanding to wa
xz_007 [3.2K]

Answer:

The full question is <em>"Currently, a company has 59,000 units of safety stock for a product located in 9 warehouses. The company is contemplating expanding to 28 warehouses. The company believes that this increased safety stock inventory investment with the new locations will result in an additional $950,000 in revenue due to improved customer service. Assuming that each unit in safety stock inventory costs $4, is the expansion to 28 warehouses a potentially good idea? The proposed plan Y sense for the company because the change in total profit is $. Enter your response rounded to the nearest dollar and include a minus sign if appropriate.)"</em>

<em />

Current Total safety stock = 59,000

No. of warehouses = 9

Safety stock per warehouse = 59,000/9 = $6,555.56

New number of warehouses = 28

Increase in number of warehouses = 28 - 9 = 19

Increase in number of safety stock = 19 * 6,555.56 = 124,555.64

Cost of each unit of safety stock = $4

Cost of increased safety stock = $4 * 124,555.54

Cost of increased safety stock = $498,222.56

Additional revenue = $950,000

Since, additional revenue > additional cost of safety stock, the additional warehouses is a good idea.

Increase in profit = Additional revenue - Increased cost

Increase in profit = $950,000 - $498,222.56

Increase in profit = $451,777.54

Hence, The proposed plan makes sense for the company because the change in total profit is $451,777.54

3 0
3 years ago
______________ means tailoring products to meet the needs of a large number of individual customers. mass customization mass pro
Taya2010 [7]
Mass production - to produce custom products in large quantities
8 0
3 years ago
Other questions:
  • Meeting the needs of the present through economic development without compromising the needs of future generations to meet their
    7·1 answer
  • When an individual or organization acquires enough stock ownership and/or the ability to vote on behalf of other shareholders to
    10·1 answer
  • Do left-handed or right-handed people make more money? one study1 recorded the hourly earnings for a random sample of american m
    5·1 answer
  • When preparing the report to analyze a proposed quality improvement​ program, which of the following costs are included in the t
    14·1 answer
  • Amber Corporation donated inventory of clothing (basis of $136,000, fair market value of $170,000) to a qualified charitable org
    15·1 answer
  • Valley Designs issued a 90-day, 6% note for $96,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a
    6·1 answer
  • You can lead a horse to water but you can't make it drink. How might this adage be relevant to expansionary monetary policy?
    15·1 answer
  • . In 2000, KFC® and A&amp;W® restaurants successfully merged because each had a strong
    15·1 answer
  • To start a new business, a sole proprietor must meet a small number of government. Which of the following is not one of them
    12·1 answer
  • At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!